B.O.B. REPORT.
Interest in the City in the annual Report of the British Overseas Bank is due to the fact that when the institution was established a few years ago it was admittedly somewhat in the nature of an experiment, the operations of the bank, as indicated by the title, being largely concerned with business overseas, while it was recognized at the time that though the needs of Europe after the War were great, much skill and caution would be necessary on the part of any bank engaged in operations in the European countries. The bank, however, was started with an exceptionally strong Board and was under the management of Mr. A. C. Gairdner, of long experience in the Union Bank of Scotland, and it can be said in a sentence that the results have thoroughly justified the experiment, enterprise having been blended with caution, resulting from long experience in other fields of banking. In the year 1926-27 there was a rather big rise in profits to £150,000, but this advance has been nearly maintained during the past year, the profits amounting to £147,000. Once again, however, the bank places £25,000 to the Reserve and carries forward. £58,000. The Deposits have increased during the year, while on the assets side there is great liquidity.
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